Chiu agreed to sell his custom-built sailboat to Graham for $60,000. Before delivery, Chiu received another offer

Fantastic news! We've Found the answer you've been seeking!

Question:

Chiu agreed to sell his custom-built sailboat to Graham for $60,000. Before delivery, Chiu received another offer for $68,000 and wrote to Graham that he had decided not to sell his boat after all.

a. Can Graham obtain a decree of specific performance?

b. Would a suit for money damages completely satisfy Graham?

c. Can Chiu avoid Graham’s suit by claiming that he was merely selling to the highest bidder?

Related Book For answer-question

Business Law Text and Cases

ISBN: 978-0324655223

11th Edition

Authors: Kenneth W. Clarkson, Roger LeRoy Miller, Gaylord A. Jentz, F

See More Books

Posted Date: Jun 29, 2018 11:30 AM

See More Questions

After upgrading his film studio, Werner agreed to sell his old equipment to Isabelle, a young director who wanted to film a movie beginning on May 1. The equipment consisted of a number of cameras...
Kenneth West agreed to sell his car, a 1975 Corvette, to a man representing himself as Robert Wilson. In exchange for a cashiers check, West signed over the Corvettes title to Wilson and gave him the...
Kenneth West agreed to sell his car, a 1975 Corvette, to a man representing himself as Robert Wilson. In exchange for a cashiers check, West signed over the Corvettes title to Wilson. Ten days later,...
The data in the chart below is for the distance (in cm) to the near point, the point nearest the eye at which the eye can accurately focus, at a persons age. Age (years) Near Point (cm) 10 7.5 20 9...
Ottey Corporation issued $4 million of 10-year, 7% callable convertible subordinated debentures on January 2, 2014. The debentures have a face value of $1,000, with interest payable annually. The...
Assume a 10-year Treasury bond has a coupon rate of 3.2 % and par value of $1000, and yield to maturity of 2%. Is this bond selling at a premium or discount? Explain why?
The actual confidence level conf_level does not equal the theoretical confidence level 0.01 in Example 3.2. Explain why. Data from Example 3.2 Data form Figure 3.3 Example 3.2 (Confidence interval...
Many companies post their financial statements and auditors report on their home pages, generally under a heading labeled investor relations. Use one of the Internet search engines to do the...
As altitude increases, does air pressure increase or decrease and Why. And what is the average barometric (air) pressure at sea-level?
Mega Games, Inc., produces two games, Extreme Combat and Judgment Weekend, with product structures as shown. An order for 100 units of Extreme Combat and 175 units of Judgment Weekend has been...
Kimberly Sam opened her beauty salon business on June 1, 2021. Based on the transactions her business had, below is the transaction analysis completed for the month of June 2021. Instructions: Based...
A friend has received an unexpected windfall of $10,000 and is considering whether to use the money to pay down their existing debt, on which they pay 6 percent interest, or invest it in a mutual...
What is the managers role in ethics?
Define the term corporate social responsibility.
The E-mini S&P 500 futures contract is one-fifth the size of the standard futures contract and can be traded on the 24-hour CME Globex electronic trading system. What might be some of the advantages...
For potential lenders, investigating borrowers trustworthiness is costly. This problem, known as asymmetric information, occurs both before and after a transaction. a. Before a transaction, the least...
Identify and describe the learning and knowledge, trend and challenges in the field of human relations, and explain how that trend and challenge could personally affect your human relations.
Differentiate the following terms/concepts: a. Personality types and money attitudes b. Planners and avoiders c. Moderating and adapting to biases d. "Perfectible judges" and "incorrigible judges"
An ETF investing in the S&P 500 index pays a 1% annual dividend yield (continuously compounding) and is currently traded at $1,300. The 3-month futures contract on this S&P 500 ETF is currently...
Go to Case 7.3, Sutton v. Eastern New York Youth Soccer Association, Inc. Read the excerpt and answer the following questions. (a) Issue: The focus in this case was the application of the doctrine of...
Kanahara is employed part-time by the Cross-Bar Packing Corp. and earns take-home pay of $400 per week. He is $2,000 in debt to the Holiday Department Store for goods purchased on credit over the...
Heublein, Inc., makes wines and distilled spirits. Tarrant Distributors, Inc., agreed to distribute Heublein brands. When problems arose, the parties entered mediation. Under a settlement agreement,...
The Jenkins supermarket manager claims that the scanning errors on purchased items are random, and about half of the errors are in favor of the supermarket. Decide whether the statement makes sense...
At a particular moment, the U.S. Census Bureau population clock shows that the global population is 7,118,233,027 people. Describe the accuracy and precision of that population number. Data From...
When recording the weight of a watermelon, a supermarket clerk writes the wrong number. Is this type of error a random error or a systematic error? Explain.

Chiu agreed to sell his custom-built sailboat to Graham for $60,000. Before delivery, Chiu received another offer

Question:

Expert Answer:

b Would a s... View the full answer

Business Law Text and Cases

Students also viewed these law questions